Layoff crystal bowl: timing for next move

I think we've all realized with the M&M&M boys that it is no longer a matter of IF but only HOW SOON AND HOW MANY.

I watched the market today, around my price is right break and my 2 pm nap. 3M came perilously close to dipping below 100 in the 1st time in 10 years. From what I can tell, there is price support around a low of 95. After that it will plummet to the low 80s.

Notice how the gentle bump from the layoff announcement has totally dissipated.

I see it testing the mid 90s on and off into July. I suspect a crash below the 95 down to low 80s will leave us with another big layoff when earnings are announced in late July. It could be anywhere from 3k to 6k. And like the current round, bosses will have to meet hurriedly in maplewood and elsewhere to divide the work among the "survivors" left behind.

This may also set the stage for the inevitable announcement that pension in frozen. That could be announced in October and become effective Jan 2025. The good news is you'll have until end of 2024 to add to your pot.

The only wildcard in leadership shake-up is when Mike replaces Mike. I think once they know the HCBG spin is happening, you'll see Monish head to HC and "should have fired more people earlier" Vale takeover as CEO, with Roman staying as chairman probably into 2025.

Good luck to all and please stop clapping in townhalls if you have been doing this.

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$99.60

$99.66

Patience....wait until it hits $99.99 and then professuonally ask ever Mgr who ever asked you if you were "winning" the same. Follow up that you are seeking to understand what is being done to action failure modes. Only then will this stupid language and terminology be purged.

$100.19

$100.39

A couple top predictions/points:

anyone who claps at town halls immediately loses my respect. Please dont clap when were announcing layoffs youre probably next!

isd is a division of undssirable businesses that will be sold. The only thing desirable in fhat division is the vp her milkshake brings all the boys to the yard

Friends in high places say almost for aure another cut before years end

Im guessing pensions and 401k shakeup at spinoff

Stock to continue slide as pfas lawsuits ramp up and earplugs maintain their path

Stock hits $90 before spinoff

Give him a ride to the train station.

Please drop Monish off at a bus stop somewhere. ParentCo is already destroyed, no point destroying SpinCo too.

I think there is literally a HR throughput limit right now on layoffs. My view is the processing plate to get them all done is full for a couple months.

What I think is happening is the SVP+ crowd is working on how many more they need to cut to make bonus numbers, then I would expect an announcement in Q3.

I said before 7500 was my guess earlier this year. I was wrong, I now think it is too low. The other posters putting out a 10k number total for 2023 might end up being right. The decision probably isn't made yet, but if Q2 is soft, I can see it happening.

Also, for the love of God, quit clapping for these fools at town halls. We should be either silent or booing.

Rather than turn their backs, I'd rather they pull a Blazing Saddle beans scene and lift they legs and fa-t!

I would love to see people stand up at the town hall and turn their backs to the speaker!

Bowling for Dollars!!!

If I could give you two up votes I would. Remember that show growing up in Detroit in 70s and 80s..seemed like it was right before the start of the main evening news (6 pm at that time). Forget the rule but realized this is what life was like in Rust Belt cities for entertainment :>)

Stepped into the men's room to look into my crystal bowl. Because the last guy didn't flush, the crystal bowl told the story of 3M's future as a 10,000 manager (+12 engineers) company. What fantastic fables it foresaw. I am an enlightened man.

Don't think you will be safe after HCBG is spun off..both companies will have new leaders (monish for HC, Vale for remain-co). They will be under pressure from WS out of the gate to "unleash value" which means 1000s more will be cut from both companies as a goodwill gesture to WS.

I just love the please stop clapping at town halls comments. The hollow seal clapping has always reminded me of Bowling for Dollars.

Thread regarding 3M layoffs

Layoff crystal bowl: timing for next move

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